MOL and PayPal Launch Co-Branded Prepaid Card

Posted by Neo at 11:21 AM . Thursday, July 15, 2010
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MOL and PayPal Launch Co-Branded Prepaid Card in Malaysia
for Online Shopping and Gaming

 

First co-branded prepaid card for PayPal and MOL in Asia Pacific
available initially for Malaysian consumers

 

Kuala Lumpur, Malaysia, 15 July 2010 – PayPal and MOL AccessPortal Berhad (MOL), one of Asia Pacific’s leading payment system providers, today announced a strategic collaboration to provide Malaysian consumers with a new prepaid card, called the MOL PayPal – The Digital Card, for online shopping and gaming.  Issued by EON Bank Berhad, this is the first co-branded prepaid card for PayPal and MOL in the Asia Pacific region and will be available initially in Malaysia on July 19, 2010. The new card enables Malaysians to fund a PayPal account that can be used to conveniently shop on millions of websites worldwide or to easily reload MOLPoints to purchase online games, products and services – all without the need of a credit card. Visit www.PayPal-MOL.com for more info.

 

“We’re continuing to build key alliances to grow our business in Asia Pacific and today we’re very excited to launch our first-ever co-branded prepaid card in the region to provide Malaysians with a new way to fund their PayPal accounts,” said Melanie Tan, Vice President of Regional Strategy & Business Development, PayPal Asia Pacific. “MOL’s wide distribution network, prepaid card experience and digital lifestyle leadership makes them an ideal choice for this venture and we’re thrilled to combine their local strengths with the ease-of-use and security of our global online payment platform.”

 

“We believe Asian countries such as Malaysia can take the lead in driving digital trends. The new prepaid card co-branded by MOL and PayPal will enable many more people to embrace a digital lifestyle and use computers and the Internet to shop and have fun,” said Ganesh Kumar Bangah, president and chief executive officer for MOL. “PayPal’s fast checkout, security features and consumer protections combined with MOL’s extensive knowledge and network in the payment industry in Asia will enable more opportunities for consumers, merchants and game publishers.”

 

The MOL PayPal – The Digital Card provides Malaysians with a faster, safer way to shop the world through PayPal.  Users don’t need to enter their financial information every time they purchase an item online – they just click on the PayPal button, enter their email and password and approve the purchase.  Not only is this faster, but also more secure as PayPal doesn’t share user’s financial information with the merchant.  In addition, PayPal’s Buyer Protection policy provides a full refund for eligible items if users do not receive the items they purchased.

 

MOL has over 200 game titles under its belt. MOL has been actively equipping gamers with the most robust online game payment service in Malaysia since 2002. The Digital Card allows gamers to immerse themselves in rich online worlds such as the ultra-popular MMORPG, World of Warcraft, which boasts over 11 million players worldwide.

 

Shopping Benefits and Gaming Rewards for Using The Digital Card

“Many Malaysians still do not have credit cards or are not comfortable using their credit cards online, so this new prepaid card will allow them to use a PayPal account to quickly and more safely shop online as well as buy MOLPoints to play exciting online games,” said Elias Ghanem, General Manager, PayPal Southeast Asia & India. “Besides being able to conveniently top up the card at more than 15,000 physical locations around the country or via online banking, Malaysians can get a wide range of shopping benefits and gaming rewards for using The Digital Card.”

 

The MOL PayPal – The Digital Card is the only card that benefits and rewards users for online shopping and gaming.

 

Shopping benefits include:

  • Card holders can get a RM15 rebate for their first transaction of at least RM150 with their PayPal account, valid until 31 August 2010.
  • Great offers from PayPal merchants worldwide.
  • Hassle-free currency conversion for online shopping.
  • Accepted worldwide by Visa card merchants.

 

Gaming rewards for first-time use include:

  • If card holders use PayPal to reload their MOL member account with a minimum of RM150 in a single transaction by 31 August 2010, they will receive 1,500 MOLPoints + 5% MOLPoints bonus (minimum of 750 MOLPoints).
  • If card holders reload their MOLPoints with PayPal’s pre-approval reload feature, they will receive 5% MOLPoints bonus (minimum of 750 MOLPoints).
  • With the potential to receive 3,000 MOLPoints or more for first-time use, card holders can buy exciting in-game products from MOL such as weapons, armour and special powers.

 

Gaming rewards for lifetime use include:

  • Every time card holders use PayPal to reload their MOL member accounts, they will receive additional 5% MOLPoints bonus (equivalent to 5 MOLPoints for every RM1 they reload through PayPal).

 

Pricing and Availability

The MOL PayPal – The Digital Card can either be purchased in over 1,100 7-Eleven stores nationwide starting on Monday, July 19, 2010, or applied online at www.PayPal-MOL.com to be picked up and signed for at EON Bank branches once the application is approved.  A special preview of the card will be available at the National World Cyber Games held at Mid Valley Convention Centre in Kuala Lumpur from July 16-18, 2010.

 

The Digital Card retails for RM15. Card holders can offset this cost with a RM15 rebate for their first transaction of at least RM150 with their PayPal account, valid until 31 August 2010.  Card top-ups are available through more than 15,000 physical outlets nationwide, including 7-Eleven outlets, Friendster cybercafés, EON Bank branches and ATMs, as well as online banking in Malaysia.

 

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About MOL AccessPortal Berhad (MOL)

MOL AccessPortal Berhad (MOL) is one of Asia’s leading payment service providers. MOL is a MSC Malaysia Status Company that operates and develops payment systems incorporated in 2000. MOL handles over 60 million transactions with an annual payment volume of more than USD200 million. MOL leverages on a network of more than 540,000 physical payment collection points across more than 75 countries. It is also linked online to 88 banks in 9 countries worldwide. MOL was recognized as one of Asia Pacific’s fastest growing technology companies in the Deloitte Technology Fast 500 Asia Pacific Awards in 2005 and 2006, won a Merit Award for the Best of E-Commerce Applications in the MSC Asia Pacific ICT Awards and received the Member Excellence Award at the 2009 ICT Leadership Awards of the National ICT Association of Malaysia.

 

Through its ownership of MOL and Friendster, MOL Global is Asia’s largest end-to-end content, distribution and commerce network, pairing MOL’s physical payment collection points and payment platform with Friendster’s large online footprint, social network and user community in Asia.

 

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, credit cards, debit cards and other methods. With more than 84 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com/my.

 

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

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